We gives you the insight of the latest Asia-Pacific development as well as global market outlook with the opinion on the market trend and indicators.Our topics cover from latest economics, business, finance, investment etc.

Boustead unlocks value of its unit
Boustead Holdings Bhd’s minority shareholders are in for a windfall as the company looks to unlock the value of its vast assets. Among other things, the board has proposed to distribute part of its stake in drug maker Pharmaniaga Bhd to its minority shareholders to help meet the required 25% free-float to stay listed. In a statement yesterday, Boustead said it proposed to raise RM171.23m to cut borrowings by offering for sale its Pharmaniaga shares to its shareholders as well as its directors, employees and unidentified investors at RM5.75 a piece. Boustead will still own just under 55% of Pharmaniaga after the proposed dividend-in-specie and restricted offer for sale. (Financial Daily)

Dialog unit, Johor Inc ink pact to develop terminal
Dialog Group’s 51% - owned subsidiary Pengerang Terminals SB (PTSB) has inked a shareholders’ agreement with State Secretary, Johor (Incorporated) to invest in Pengerang Independent Terminals SB (SPV). In a filing with Bursa Malaysia yesterday, Dialog said the agreement is to undertake the first phase portion of the design and development of an independent deepwater petroleum terminals at Pengerang, Johor. (Financial Daily)Please see accompanying report.

Sapura Crest up on ‘acquisition’
SapuraCrest Petroleum has confirmed that it is in talks with Australia-based Clough Ltd over a possible sale of the latter;s loss-making marine construction business. The discussions may result in a business acquisition, co-operation and/or other business arrangement with Clough, SapuraCrest said in a filing with Bursa Malaysia yesterday. (StarBiz)

Tan Chong to assemble Subaru vehicles here
Fuji Heavy Industries, the maker of Subaru vehicles, yesterday announced that it has signed a MoU with Tan Chong Group for a consignment production contract for the assembly of Subaru vehicles in Malaysia. In a press statement released yesterday, FHI said the contract for local assembly, which will begin in October 2012, will be entered into with TC Subaru SB, the distributor of Subaru vehicles in Malaysia, at an existing production facility of Tan Chong Motor Assemblies SB (TCMA). (Financial Daily))

GLICs to pare down stake in prominent companies
Government-linked investment companies (GLICs) are likely to pare down their stakes in the usual suspects such as Malaysia Airlines, Malaysia Airports Holdings, Proton Holdings and Malaysia Building Society. At the 7th Economic Transformation Programme update on Tuesday, the Government said it had identified 33 companies under its divestment plan – it will pare down its stake in five companies, list seven companies and have an outright sale of 21 companies. (StarBiz)

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